Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus [Updated]

[jlasoon]

So you don't feel like you should thank Obama for rescuing the struggling US economy and putting the US on the path towards prosperity?

That seems pretty ungrateful of you...

The FED backstopped Obama at every turn. Low rates, incessant money printing, $10T in new debt without growing anything anywhere. Obama was a joke, and his financial advisers from CITI (8 of them) were complete idiots.

What you're seeing now is absolute relief from bankers all across the world. Soros and his ilk LOST!

 

[KPOM]

And they still do, and will continue to do so.

So why do the MAGA people think the tax-bill has anything to do with this?

This is only a $5 billion investment over the next 5 years. They make a lot more profit than that in the US alone, and don't need repatriated cash to cover this.

My guess is they won’t be issuing new debt. They can simply repatriate the cash without resorting to trickery. Makes better use of their balance sheet.

And the lower corporate tax rate means there will be more money for Apple to distribute or invest.

 

[2010mini]

I don't understand, i thought the tax cut would hurt the middle class... huh

Wait until the waiter brings the check and you find out your wallet is empty because you didn’t curb your spending habits

 

[mozumder]

The FED backstopped Obama at every turn. Low rates, incessant money printing, $10T in new debt without growing anything anywhere. Obama was a joke, and his financial advisers from CITI (8 of them) were complete idiots.

What you're seeing now is absolute relief from bankers all across the world. Soros and his ilk LOST!

Soros stil controls you. You have no choice but to obey him.

 

[KPOM]

When Obama took office, the economic situation was so dire that many pundits were talking about the possibility of the entire banking system having to be nationalized in order prevent disaster. That was a common theme around that time. Stock market was in the toilet. Horrific job loss numbers. Nobody seemed to know if the financial sector was even solvent.

Compare that to what Trump inherited and, yeah, you can see how someone can say that Obama "saved" the economy.

Not really. TARP, passed in 2008 and signed by Bush, along with the Federal Reserve stabilized the banking industry.

Normally we race out of a crash. In 8 years we never once had 3% GDP growth. We had that in the 1930s while recovering from the Depression. That’s never happened before. We’ll hit 3% in 2018. Deregulation is real. Tax reform is real.

 

[TehFalcon]

When Obama took office, the economic situation was so dire that many pundits were talking about the possibility of the entire banking system having to be nationalized in order prevent disaster. That was a common theme around that time. Stock market was in the toilet. Horrific job loss numbers. Nobody seemed to know if the financial sector was even solvent.

Compare that to what Trump inherited and, yeah, you can see how someone can say that Obama "saved" the economy.

Obama didn't do anything, that was congress acting on saving their country from going into economic ruin. All Obama had to do was sign the papers and take full credit for saving the United States. Just like when he took credit for finding and killing Osama Bin Laden.

Trump pressured this tax bill, and worked with congress on it, then signed it.

 

[CylonGlitch]

That only goes to show you how ungrateful you are to the people that helped you.

You should always thank the people like Obama that helped you.

So you will only say thanks to those that you agree with? Or like? While this plan has been in the works for a while, Trump did help push it through. Are you going to thank him?

 

[TehFalcon]

That only goes to show you how ungrateful you are to the people that helped you.

You should always thank the people like Obama that helped you.

I make 18k a year, he did NOTHING for me. How dare you claim he helped me by introducing a **** ton more taxes and failed programs.

 

[mozumder]

My guess is they won’t be issuing new debt. They can simply repatriate the cash without resorting to trickery. Makes better use of their balance sheet.

And the lower corporate tax rate means there will be more money for Apple to distribute or invest.

Why would they need to repatriate any money for this? It's only a $5 billion investment over 5 years. They make far more US profits than that to cover it.

 

[2010mini]

The stock market did better under Obama's first year than Trump's first year.

Why is Trump so bad at growing the economy?

Presidents have very little to do with the economy. They take the credit when it is doing good and get blamed when it is doing bad.

Congress is who is directly responsible for the US economy.

 

[mozumder]

I made 18k a year, he did NOTHING for me. How dare you claim he helped me by introducing a **** ton more taxes and failed programs.

So you don't want to thank Obama for giving you a job?

Why be so ungrateful to the person that gave you your job?

 

[NomadicTy]

So you don't feel like you should thank Obama for rescuing the struggling US economy and putting the US on the path towards prosperity?

That seems pretty ungrateful of you...

Why can't Trump be as good as Obama? Obama did much better in his first year than Trump's first year.

Obama kept us from sinking, but nowhere did he put us on a path of prosperity. And it was all money printing by the central bank that kept us up. If for anything, a drop like we had in 2008 should have been followed by a huge, strong run. We just kept from drowning. ~2% GDP growth at ~2% inflation (which we all know is really higher), what's the net growth? Basically nothing.

What made Obama even worse was he kept corporations wondering what new rules or regulations he'll come up with, so they ended up sitting on the sidelines. I personally know of 4 corporations that were clients of mine during that period.

I'm no republican, and someone really needs to keep that phone away from the Trump, but he knows business and this tax cut was passed because he made it the agenda. And no way this would have been signed by the press if it was Hillary.

Why not put down the political squabbles and just be happy something good is happening for the people that deserve it most - the american taxpayer.

 

[lunarworks]

I'd be more curious as to whether or not this is/was because of the new tax plan and Trump's administration. Or if this is just business as usual for Apple...

It's probably a mix of both. You have other companies like Carrier, who got a personally-arranged tax deal from Trump, reneging on their commitments to save/create jobs, pocketing the money, and sending the jobs to Mexico anyway.

 

[deanthedev]

So when the economy "corrects" sometime in the next two years and your 401k tanks along with it....are you still going to be proud of your first sentence?

Irrelevant. I wasn’t talking about 401Ks. I was talking about the hypocrisy of Presidents taking credit or passing blame for events that started before they took office.

Try and keep up.

 

[BaltimoreMediaBlog]

I think you mean thanks Paul Ryan and Mitch McConnell and the rest of Republicans in Congress. Trump didn’t do squat.

If Trump hadn't gotten elected, Jack Squat is what you would have gotten.

 

[TehFalcon]

And yet you forget this comment you made :


So you will only say thanks to those that you agree with? Or like? While this plan has been in the works for a while, Trump did help push it through. Are you going to thank him?

All this does is show how Ignorant he is. People like him are the reason why we can't just have a better society, they can't let things go, live in the past, and stick to what they make themselves believe.

 

[ksnell]

You must be easily confused. No one predicted the tax bill would be hard on giant corporations like Apple. It’s literally a dream come true for most of them.

It’s the average person making 40k a year that is in big trouble in the long run.

I would say it's probably a positive impact on those 20,000 individual's receiving jobs, no?

 

[TehFalcon]

So you don't want to thank Obama for giving you a job?

Why be so ungrateful to the person that gave you your job?

HOLY HOT DAMN. Obama didn't give me a job. What the hell kind of fantasy land are you living in?

My FATHER gave me a job.

 

[2010mini]

The FED backstopped Obama at every turn. Low rates, incessant money printing, $10T in new debt without growing anything anywhere. Obama was a joke, and his financial advisers from CITI (8 of them) were complete idiots.

What you're seeing now is absolute relief from bankers all across the world. Soros and his ilk LOST!

Yet the economy and stock market has been trending upwards since 2015.

Obama, Bush, not Trump can lay any claim to that.

 

[BaltimoreMediaBlog]

According to the media, this is all thanks to The Obama Economy!

So thank you Obama and Hillary! LMAO

 

[barkomatic]

Lots of fake news here by the usual MAGA supporters claiming credit for this when it has nothing to do with the tax bill or Trump.

I'm not a MAGA supporter, but Apple has long said it would not repatriate overseas funds unless the tax laws were revised. Those laws have indeed been revised and they are repatriating some of those funds as they promised.

Again, overall I think the tax bill is harmful but in order to make credible arguments one has to acknowledge what's going on.

 

[KPOM]

Why would they need to repatriate any money for this? It's only a $5 billion investment over 5 years. They make far more US profits than that to cover it.

They’ll continue to pay dividends and buy back stock, too.

Obviously Apple is putting the maximum spin on this, but what’s important is that they are investing in the US. Tax considerations drive investment decisions all the time.

 

[CylonGlitch]

All this does is show how Ignorant he is. People like him are the reason why we can't just have a better society, they can't let things go, live in the past, and stick to what they make themselves believe.

I agree, times change, things change, change with them. There are always good and bad things, we need to try and minimize the bad and encourage the good. There will be new things tomorrow and we'll face them as they come. But to stop and only complain does nothing but make you old and bitter.

Can't we all just get along?

 

[ksnell]

Not sure if you’re just messing or drunk too much kool-aid but it’s not. Congress was working on this bill long before Trump was in the picture.

Proof? (Besides that Republicans are always trying to cut taxes.)

Trump specifically pushed for many of the things in the bill, like simplifying the individual brackets, lowering the corporate tax rate, and pushing for repatriation of corporate funds held overseas.

 

[Carnegie]

I'd be more curious as to whether or not this is/was because of the new tax plan and Trump's administration. Or if this is just business as usual for Apple...

It's both, but mostly it's business as usual.

Nearly $40 billion of that $350 billion represents the taxes on (as-yet unremitted) foreign earnings that Apple now has to pay. And some portion of the $30 billion in expected capital expenditures (over the next 5 years) might be attributable to the tax law changes. So, maybe $50 billion is attributable to the tax law changes? Maybe $60 billion? We can only ballpark it at this point.


EDIT: I should add that some portion of the expansion in Apple's Advanced Manufacturing Fund might be attributable to the tax law changes.